Omnichannel Retail Strategies for 2016

DATE: 01/05/16

With consumers more connected than ever, retailers must create a consistent experience that crosses all screens...and the store. Today, the path to
purchase includes digital, mobile and real-life channels, and every single touch-point matters. Ensuring that customers have the best and most convenient shopping experience, no matter how they choose to shop, is the way to win in 2016. Here are five trends expected to dominate in 2016:

The Prominence of Mobile

The rise in consumer mobile usage has forced retailers to up their mobile game. Consumers now use mobile devices to find local stores, track sales, research and buy products. With the uptick in
digital location-based marketing, retailers can now target consumers via cellular, GPS or wireless connection and serve them ads based on their searches once they're within three miles of a brick-and-mortar location. A recent study forecasts the location-based services market will reach $43.3 billion in revenue by 2019, rising from an estimated $12.2 billion in 2014.

Social Has a Role to Play

Today consumers curate Pinterest boards in lieu of lists and are very social about their likes and their dislikes. Understanding the role of social media in determining and influencing consumer's attitudes, motivations and behaviors is more important than ever. This year, consumers can expect a more personalized consumer-seller experience as many retailers implement more real-time communication strategies.

Gaining the Competitive Edge with Free Shipping

Whether or not free shipping is really free is a topic that is often debated. However, with shipping rates being what they are, no one can deny that it remains a compelling offer. In fact, according to the
CIT Retail Outlook, 61% of retailers surveyed believe that the benefits of free shipping far outweigh any potential risks to the bottom line. Many stated that free shipping and returns have become a widespread consumer expectation that is here to stay.

The Integration of Online and Offline Fulfillment Channels

More retailers are offering
click-and-collect services that allow shoppers to buy merchandise online and pick it up at a local retail branch or service station. Many consumers would rather forgo the shipping costs and wait time and instead pick up their items at a time and place that's convenient for them. Retailers are also using brick-and-mortar inventory to fulfill digital orders when items are out of stock online.

YouTube

In today's world of Google searches and viral Internet videos, it is no wonder that YouTube has had a profound effect on
brand engagement. Companies are utilizing the site to spread brand awareness across the globe via ads, programs like TrueView and through brand ambassadors willing to create entertaining content promoting their favorite products.

Accounts Receivable Management Outsourcing Drives CE Vendor Growth

Fast Facts in Five: Retail Executives Speak

With e-commerce becoming increasingly prevalent, social shaking things up and brick-and-mortar-focused retailers stepping up their online game, 2017 will prove to be an interesting year for retail. Here is just a glimpse at s